Tesla Reports $112 Million Bitcoin Impairment as Q2 BTC Holdings Stay Unchanged

Tesla (NASDAQ: TSLA) kept its bitcoin holdings unchanged during the second quarter, maintaining a treasury of 11,509 BTC despite a sharp decline in the cryptocurrencys price over the period. The electric vehicle maker recorded a $112 million after-tax impairment on its digital asset portfolio as bitcoin fell during the quarter, according to its latest earnings report. Bitcoin dropped about 14% in the second quarter, sliding from roughly $83,000 at the beginning of April to around $58,000 by the end of June amid heightened macroeconomic uncertainty and weaker risk appetite. The cryptocurrency…  Read more

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